Re: 12% Off Giftcards this Saturday. EAT THAT BCP LOVERS!
10-05-2012 11:18 AM
Keep in mind the 2% is only on the first $250 in spending.
I do not see this an unethical and do not see how anyone could. I do wonder why you would buy an item instead of a gift card. Do they not sell gift cards online? Other stores do this too but obviously do not do it too often as they will catch on.
+1. I totally agree with you on this one. This is the reason why the credit card companies are now getting smart, placing tiers and caps on credit card/bonus programs as they must have realize there are to many loopholes to be exploited. And to top it off, it being posted on this public forum, where most everybody, including the credit card companies and their representatives come on and read.
They place caps because if they did not they would lose money, even from non churners. Regular people can spend 1500 on groceries a month, without even trying to milk the rewards program. So if Chase did not have the cap, they would lose a lot more money than they already do by having the 5%. Everyone knows about these tactics; all it takes is a little common sense. The credit card companies know about them too, but if you do not do it too often, they will not care.
Your point is well taken. However, excessive abuse of the programs are what causes the credit card companies to rethink their strategy and lower the caps and tiers even more. I can't personally say who is being ethical or unethical here without the complete picture. But I can tell you that no one needs to be taught how to use their credit cards unethically. From the comments following the topic, you have mixed emotions about this conversation. Some don't see it as any harm, and others say, yes I know that these practices could amount to harm, but don't care. I learned that what I see as harm, or call moral, others don't see it that way and are looking at the situation from another viewpoint. So who is right, and who is wrong? I guess nobody.